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2/10/2021, 8:37 PM (Source: TeleTrader)
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Powell: Stimulus needed until we are 'really through pandemic'

Measures aimed at helping the United States economy recover from the crisis caused by the COVID-19 pandemic can't be halted until it is certain that the US is "really through the pandemic," Federal Reserve Bank Chair Jerome Powell noted on Wednesday.

Answering questions at the Economic Club of New York's event, Powell stated that the level of uncertainty is too high, stressing that withdrawing the stimulus prematurely would be a wrong course of action.

He previously predicted that the US labor market has a long way to go before returning to its prior "robust" state.

Baha Breaking News (BBN) / BU